(L to R): Atty. Gil Taway IV (President and CEO), Minister and Consul General Indhira C. Bañares
(18 January 2025 - Prague, Czech Republic) - Following the successful visit of President Ferdinand R. Marcos Jr. to the Czech Republic in the first quarter of 2024, officials of the Aurora Pacific Economic Zone and Freeport Authority (APECO) held consecutive meetings with the business sector in Prague and Brno from 25 to 28 November 2024.
Assisted by the Embassy of the Philippines in Prague, the APECO delegation presented the investment opportunities for Czech companies in the Philippines and the advantages of locating in its economic zone and freeport to officials of the Czech Chamber of Commerce, the Confederation of Industry of the Czech Republic, and the Defense and Security Industry Association of the Czech Republic in Prague. They also met with officials of the Brno Chamber of Commerce and the Czech Water Alliance and visited the Department of Simulation Medicine and Simulation Center of the Faculty of Medicine of Masaryk University in Brno.
Atty. Gil Taway IV, President and CEO, highlighted to the Czech business sector the strategic location of APECO, particularly its direct access to shipping routes in the Pacific, and its fiscal incentives for early locators. His team also stressed the potential of APECO as a defense and security industry hub for Czech companies who intend to expand their operations and markets in the Indo-Pacific region.
The chambers of commerce said that the visit of APECO officials was very timely as Czech companies are now moving from exporting to investing in foreign countries. Among the top three considerations include ease of market entry, favorable tax rates, and competitive labor costs – all of which APECO can provide for Czech companies.
Ambassador Eduardo R. Meñez supported APECO in its thrust to locate Czech companies in its economic zone and freeport, especially as it is in line with the overall national economic and defense security of the Philippines.
The article was first featured on the Facebook Page of the Philippine Embassy in Czech Republic on 18 January 2025. To view the original article, please click here.
